NJ weekend forecast promises ideal beach weather at the Jersey Shore
Atlantic City, NJ – The sun will take center stage this weekend at the Jersey Shore, setting up a stretch of weather made for boardwalk strolls, beach chairs, and ocean dips. Today…
Carrier Global raises full-year profit forecast on strong demand
(Reuters) – Air conditioner maker Carrier Global on Thursday raised its full-year adjusted profit above Wall Street estimates, encouraged by robust demand for the company’s heat pumps, refrigerators, and aftermarket repair services.…
A. O. Smith raises full-year adjusted profit forecast
(Reuters) – A. O. Smith on Thursday raised its full-year adjusted profit forecast, helped by lower cost of steel and strong demand for water heaters in North America. The Milwaukee, Wisconsin-based company…
Thai June factory output drops more than forecast as exports weak
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s factory output shrank more than expected in June as sluggish global demand crimped exports amid an uncertain outlook for industry as political…
Lam Research sales forecast beats estimates on AI boom
By Akash Sriram and Max A. Cherney (Reuters) -Chip-making tools supplier Lam Research forecast quarterly revenue above Wall Street estimates, as semiconductor makers scramble to meet a surge in demand fueled by rising…
CBO revises U.S. 2023 growth forecast higher amid strong first-half labor market
WASHINGTON (Reuters) – The Congressional Budget Office revised its 2023 U.S. economic growth forecast substantially upward on Wednesday to 0.9% from a meager 0.1% forecast in February, citing a stronger-than-expected labor market…
Thai exports fall less than forecast in June, seen improving
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thai exports shrank for a ninth consecutive month in June, albeit at a smaller rate than expected, as global demand remains sluggish, but…
IMF cuts Saudi Arabia’s 2023 GDP growth forecast to 1.9%
DUBAI (Reuters) -The International Monetary Fund cut its 2023 GDP growth projection for Saudi Arabia to 1.9% in its latest World Economic Outlook update released on Tuesday, to reflect the impact of…
Logitech beats earnings estimates and raises forecast, lifting shares
By John Revill (Reuters) -Logitech International raised its sales and profit outlook for the first half of the financial year 2024 on Tuesday, sending its stock sharply higher. The maker of computer…
Goldman Sachs cuts 2023 euro zone growth forecast following weaker economic data
(Reuters) – Goldman Sachs cut its 2023 growth forecast for the euro zone, following weaker economic activity data. Economists led by Sven Jari Stehn said on Tuesday they now expect a 0.4%…
IMF sticks with forecast for limited UK growth in 2023
By David Milliken LONDON (Reuters) – The International Monetary Fund confirmed its latest forecast for British economic growth this year, saying cheaper energy, better relations with the European Union and calmer financial…
Apple supplier Corning Q3 revenue forecast hit by consumer electronics slump
(Reuters) – Specialty glass maker Corning forecast third-quarter core sales below Wall Street estimates on Tuesday, as it grapples with the ongoing slump in the consumer electronics market. Corning said it expects…
Singapore June core inflation rises 4.2%, matches forecast
SINGAPORE (Reuters) – Singapore’s key consumer price gauge rose 4.2% in June, matching economists’ forecasts, official data showed on Monday. Inflation was lower as prices of food and energy eased, according to…
Russian central bank ups 2023 GDP forecast as it hikes rates by 100 basis points
(Reuters) – Russia’s central bank raised its forecast for economic growth in 2023 even as it hiked rates by 100 basis points on Friday, now envisaging gross domestic product (GDP) growth of…
Morgan Stanley lifts 2023 US growth forecast on expectation of infrastructure investment
(Reuters) – Morgan Stanley raised U.S. economic growth forecast for the year on a strong industrial sector and more public investment in infrastructure, and expects a “comfortable” soft-landing for the economy. Economists…
PPG Industries raises forecast as higher prices boost quarterly results
(Reuters) – PPG Industries raised its full-year profit forecast on Thursday after beating second-quarter profit estimates as strong prices helped the industrial coatings maker offset lower demand. While overall sales volumes were…
D.R. Horton lifts annual revenue forecast on sturdy housing demand
(Reuters) – D.R. Horton Inc on Thursday raised its forecast for full-year revenue and homes closed, benefiting from strong demand and easing shortages of labor and construction supplies, sending its shares up…
BofA cuts China’s 2023 growth forecast to 5.1%
(Reuters) – BofA Global Research on Thursday cut China’s economic growth forecast for this year to 5.1% on a disappointing second-quarter gross domestic product (GDP) growth and potential delay in forceful policy…
Credit Suisse ups S&P 500 year-end forecast to 4,700
NEW YORK (Reuters) – Credit Suisse increased its year-end target on the S&P 500 to 4,700 from 4,050, citing a decline in the near-term U.S. recession risk and a stronger earnings outlook…
PNC Financial’s interest income forecast trim clouds upbeat quarter
(Reuters) – PNC Financial Services Group on Tuesday cut its forecast for full-year net interest income (NII), casting a shadow over the lender’s second-quarter earnings beat. Shares of the bank fell nearly…
Deutsche Bank cuts China’s 2023 growth forecast to 5.3%
(Reuters) – Deutsche Bank lowered its forecast for China’s economic growth forecast this year to 5.3%, from 6% earlier, citing weakness in domestic consumption demand and a deterioration in the property sector.…
J.P.Morgan, Goldman raise Canada central bank terminal rate forecast to 5.25%
(Reuters) – J.P.Morgan and Goldman Sachs said on Wednesday they now expect the Bank of Canada (BoC) to deliver one last 25-basis point rate hike in October and lifted their terminal rate…
Chile govt lowers forecast for 2023 economic growth
SANTIAGO (Reuters) – Chile’s government now expects gross domestic product (GDP) to grow 0.2% in 2023, Finance Minister Mario Marcel told the Senate on Wednesday, revising its forecast down from a previous…
Bank of Canada hikes growth forecast and says inflation slowing only gradually
OTTAWA, July 12 (Reuters)-The Bank of Canada (BoC) on Wednesday raised its growth forecast for this year to 1.8%, up from the 1.4% predicted in April, as excess demand continues feed underlying…
Thai May factory output falls 3.14% y/y, less than forecast
BANGKOK (Reuters) – Thailand’s manufacturing production index (MPI) in May dropped by a less than expected 3.14% from a year earlier as exports remained sluggish, the industry ministry said on Friday. The…
US Midwest drought expands, but forecast rains offer relief to crops
By Karl Plume CHICAGO (Reuters) – The most intense drought to hit the U.S. Midwest farm belt since 2012 deepened over the past week, sapping soil moisture and threatening crop yield potential…
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